Nexity: Changes in Nexity's governance

CHANGES IN NEXITY’S GOVERNANCE

Paris, 31 March 2021

Nexity’s Board of Directors, at its meeting yesterday chaired by Alain Dinin, adopted the draft resolutions to be submitted for approval at its Shareholders’ Meeting on 19 May, as well as a number of decisions related to its governance.

Subject to approval of these resolutions, a new executive management structure will take effect at the close of the Shareholders’ Meeting, with the following features:

• Separation of the roles of Chairman of the Board of Directors and Chief Executive Officer, and appointment of Véronique Bédague as Chief Executive Officer at the close of the Shareholders’ Meeting of 19 May 2021. Nexity thereby aims to reinstate the governance system implemented in 2019 with the appointment of Jean-Philippe Ruggieri as Chief Executive Officer, which was interrupted following his death in April 2020. Alain Dinin, as Chairman of the Board of Directors and the Strategy and Investment Committee, will continue to assist the executive management team in high-level decision-making regarding strategy and the allocation of financial and human resources. Ms. Bédague, who currently leads all of Nexity’s development businesses, will be appointed for a four-year term.
   
• The announced departure of Julien Carmona, who has expressed his wish to pursue a new career direction, and did not request to have his appointment as a company officer and the Group’s Deputy Chief Executive Officer renewed. This term of office will end at the Shareholders’ Meeting in May 2021. The Board expresses its deepest gratitude to Julien Carmona, who has shared his talent and dedication with the Nexity Group since January 2014.
   
• To ensure continuity in delegations of authority, Jean-Claude Bassien, already Deputy CEO in charge of Services, will be, alongside Véronique Bédague, the Group’s second company officer for a four-year term starting at the close of the Shareholders’ Meeting.

Alain Dinin commented: “The new governance structure to be put in place as of the Shareholders’ Meeting of 19 May will ensure continuity and help accelerate the Group’s services platform strategy. In my capacity as Chairman of the Board and representative of a group of shareholders holding around 20% of the share capital, I will accompany Véronique Bédague and her team in developing our business models and pursuing a new growth cycle driven by low-carbon solutions, services and innovation to adapt to emerging trends in how people live and work. I would also like to extend my deep thanks to Julien Carmona for his major contribution to Nexity’s development over the past several years.”

In addition, a number of changes concerning the Board of Directors will take place if the shareholders approve them at the Shareholders’ Meeting on 19 May:

• The terms of office of two Board members are expiring at the close of the 2021 Shareholders’ Meeting: Soumia Belaidi-Malinbaum, whose reappointment will be proposed at the Shareholders’ Meeting, and Jacques Veyrat, who has not requested to be reappointed.
   
• To replace Jacques Veyrat, following the procedure put in place by the Remuneration, Appointments and CSR Committee, the Board of Directors has chosen to propose the appointment of Myriam El Khomri. Ms. El Khomri, former French Secretary of State for Urban Affairs and former Labour Minister, former Paris City Council member and Deputy Mayor of Paris, currently serves as Director of the S2H Consulting subsidiary of the Siaci Saint Honoré group. Ms. El Khomri’s recognised expertise in urban policy, urban planning, labour relations and CSR will be vital assets in expanding and diversifying the Board of Directors’ skill sets. Ms. El Khomri also meets the independence criteria set for Nexity’s directors.
   
• In addition to her appointment as Chief Executive Officer, it is proposed that Véronique Bédague be appointed as a Nexity director.
   
• In full agreement with the Arkéa group, and in order to strengthen the long-term partnership between the two groups, it will be proposed at the next Shareholders’ Meeting to appoint Crédit Mutuel Arkéa as a legal entity holding the position of a Nexity director, taking over from Jean-Pierre Denis in his capacity as a natural person director. As such, Crédit Mutuel Arkéa will designate a permanent representative to serve on the Board of Directors.
   
• The Board and its Chairman wish to express their sincere gratitude to Jean-Pierre Denis and Jacques Veyrat for their support and their contributions to Nexity’s Board of Directors.
   
• Lastly, the age limit under the Articles of Association applicable to the Chairman of the Board of Directors will be raised to 75, subject to a vote in favour by the shareholders, from the current age limit of 72.

AT NEXITY, WE AIM TO SERVE ALL OUR CLIENTS AS THEIR REAL ESTATE NEEDS EVOLVE
With more than 11,000 employees and €4.9 billion in revenue in 2020, Nexity is France’s leading integrated real estate group, with a nationwide presence and business operations in all areas of real estate development and services for individuals, companies, institutional investors and local authorities.
Our services platform is designed to serve all our clients as their real estate needs evolve.
Firmly committed to focusing on people and how they are connected with each other, their cities and the environment, Nexity was ranked, for the second year in a row, France’s number-one low-carbon project owner by BBCA in 2020, is a member of the Bloomberg Gender-Equality Index (GEI) and obtained Great Place to Work certification in 2020.

Nexity is listed on the SRD, Euronext’s Compartment A and the SBF 120.

CONTACT
Véronique Creissels – Director of Communications, Brand Strategy and Engagement / +33 (0)1 85 55 34 91 – vcreissels@nexity.fr
Julie Mary – Press Officer / +33 (0)1 85 55 32 35 – jmary@nexity.fr

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